All Forum Posts by: Jenet Christiansen

I just finished my own gut reno. I fronted him 50% of his labor cost up front as well as purchasing all of the supplies. I still got burned, he never cleaned and his "guys" were people who did work on his home, which he had just finished doing a major reno on and because of that, he got a contractor's license. My realtor recommended him to me when I bought my condo. Both of us are sorry. Towards the end of things, I had to pay him because he had no money to pay the subs to finish my job. He claimed at the beginning he would be doing much of the job himself, this was a LIE. He took half of the cost of labor and pocketed it. I ended up paying too much for the condo, and too much for the reno. I still do not have plumbing that drains for my washer. I think of it as an invaluable lesson. Trust NO ONE.

As someone who is just starting out I agree with you that there are no "deals" with high return just sitting waiting to be scooped up. So many investors have moved into our "hot areas" that the minute anything becomes available, they swoop in. I am not knowledgeable at all but I am perusing the listings, auctions, foreclosures and compared to five years ago for sure the inventory is sparse. Everything I am seeing is priced so high already I would break even after the rehab. I am going to continue to look, I see the suggestions made here, and after I study deal analysis a bit more, I will probably try some of those. I have to say that there are an incredible amount of people in this general area looking for the same things I am, with the connections, experience and knowledge that I do not yet have. I am not going to give up though...

I recently sold my home and have the liquid cash in my savings. My plan was to live off of the money now that I have downsized. My problem is that I will probably outlive that money. This is exactly why I want to get into REI. I also need to be bringing in an income. I am very good at painting, cleaning and cooking. Originally, I was leaning towards getting a smaller property and renting it out on Airbnb. Problem is condos have bylaws on renting, so airbnb won't work. My real estate agent suggested I start my own cleaning business, do clean outs for agents but I read that if the only experience I have in this is doing my own cleaning, it is not such a great idea. I want to make a 10% return on my money somehow that is without risk. (ha ha dreamin right?). I am seeing so many people asking for "hard money"...but why would I just give anyone money without a guarantee of at least getting the return?? If I were to give it to someone to buy something outside of my area, even if I end up holding the deed that won't help me if I am unable to manage it. I had been caring for my Dad full time for the last 6 years and he passed, this is why I suddenly am left with some money, a paid off condo and car, great credit but no real job or income. I am a very hard worker and I know if someone would give me the chance working with them would be extremely beneficial to both of us. I was in the medical profession part time but have no desire to get back into that full time. I am reading the book on flipping houses and see that it is advised I get my real estate license. I find myself very interested in REO's but our area is very saturated with investors and my curiosity is raised when I see one that has been sitting over a year. I truly have no idea what to do next but some ideas are...putting ads on craiglist offering to apprentice with painters or cleaners, contractors...and once I have some real experience starting my own business doing one of those. I need to be bringing in some money, I really don't want to use this money to live on, not when I am still of able body and mind. I also have my paralegal degree and have not been in that field for 15 years. When I was, I did closings up north for an attorney. Right now I am reading.... A LOT. I am also praying A LOT. I want God to be the author of my next move. Only He knows what is going to happen down the road, I am not a fortune teller. My problem is I am anxious to get started doing SOMETHING. Does anyone know of anything safe that is guaranteed a 10% rate of return? fail safe? my fear are what if the bottom were to drop out like in 2008 right after I buy something. So many economic gurus are pointing to that happening. I am very good at making people feel comfortable, love cooking and entertaining people too. I wish I could own a bed and breakfast actually, but I don't have enough to get one of those. Unless occupancy is constant, they aren't a great money maker anyway. I am looking for ideas....

There are so many! It is off the charts how many letters I have gotten, some have sent up to 3! This is this particular guys second. That's why I lambasted him on his FB. To me, IF a person wanted to sell real estate that is involved in probate (this wasn't) they don't need a bunch of deal hounds banging down their door regardless of the circumstances. Think about how they will feel opening the letter addressed to their loved one who just passed. It is like cutting open a wound that is trying very hard to heal. The last person I would ever deal with is someone who used that kind of tactic. I also do not use anyone who goes door to door. I prefer my privacy is respected. In the beginning I shared with some of my realtor friends that this was happening and they said they knew of agents who were doing this and agreed with me it is disgusting. I guess they have no problem sleeping at night. I, would. I won't give up, but I WILL remember how other people may feel. 

I just got yet another letter from an "investor" in my area asking if I plan to sell my home since I am my Dad's Personal Representative. I have had enough...I have gotten about 30 letters since he died in April. I find it a disgusting tactic and heartless. Someone DIED. Someone I loved and who was the biggest part of my life. Maybe REI is not for me after all if I have to take advantage of other people's weaknesses and kick them when they are down. I went on the guys FB and reviewed him too. I hope he loses business because of it.

I want to share my thoughts on this topic since I am now on both sides of it. My Dad passed away not even a year ago and I am his PR. I have been receiving letters since he died and I find it appalling. I cry every single time! I owned the home already due to a right of survivor-ship in our deed. The letters started not even two weeks after he died, before the case was even listed in probate. Now I am also getting into REI and some of the tactics I see being used to coerce people into selling properties for less than they can get turn my stomach. I find it opportunistic and heartless. Maybe this isn't going to be the career for me after all. Oh and I just went on FB and reviewed the latest one person who did this to me so the public can see what he is all about. Most people I know would NOT like this done to them at all.

Wow!!! I have yet to get started...still educating myself. Will be doing tonight's webinar.

Wow! I am busy working on my own reno and didn't get to see this! Great!! Thanks so much for all of the links Linval T!!! I will try to sit down this weekend and read through some of this stuff. 

I have decided I am all in on investing. I have a small amount of capital to work with, a dedicated partner, some knowledge about real estate but I want to make sure I do this right. What type of company should I form? Should I hire an attorney to find this all out? Which homes should I be looking at, everything in my area seems to be very overpriced. My idea is an LLC, with my contractor an real estate agent as partners in some capacity. Please point me in the right direction. Should I also be studying FL Law concerning real estate? I am a paralegal so that would not be too difficult for me. I don't want to spend money on hiring an attorney needlessly or hire the wrong person. Should I also find a real estate CPA? Sorry about the questions but I truly have no idea where to start.

Hi all

I am Jen, and I am interested in buying distressed properties and working with my rehab team to flip them. If I start small, I can actually pay cash for them and put the reno on credit. I have no clue where to start, need to form my business along with my partner who is a contractor. Bank of America has offered to work with me on this endeavor because I have been a long time customer and my credit is excellent. My Dad (pictured) just passed away and I have sold our home, purchased a condo and am in the process of renovations on it. I plan on working on the properties alongside the contractor, learning the business "hands on". Although I am a medical professional, I have had enough of stress and this type of work seems to be what makes me happy. I truly need advice on all aspects of this. I have a friend who is an agent here, I have Lowe's willing to do Q bids, and a certain amount of cash that I want to invest to start. I want to form an LLC named after my daughter who passed away, making my contractor a partner as he has no capital of his own although he has all the tools, truck etc. I have an eye for not only decorating but designing and enjoy doing painting and flooring. I plan to upgrade to Pro if I determine this site to be helpful.